Rusoro Announces Credit Bid by Dalinar Energy for CITGO Parent Company and Update Thereof
Portfolio Pulse from
Rusoro Mining Ltd. announced that Dalinar Energy Corporation, supported by a consortium including Rusoro and Gold Reserve, submitted a credit bid to purchase 100% of PDV Holding, Inc. (CITGO's parent company). However, the Special Master recommended a $3.699 billion bid from Red Tree Investments as the 'Stalking Horse' bid. A court hearing will be held to consider the bid selection.
March 24, 2025 | 12:45 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Rusoro Mining is part of a consortium bidding for PDV Holding, with professional advisors helping maximize the value of its U.S. Judgment in the PDVSA sale process.
While Rusoro is part of the bidding consortium, the Special Master recommended a competing bid, which creates uncertainty about the outcome. The company is actively engaged in the process with professional advisors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80